Mumbai: The V P Road Police have registered a case against three Maharashtra Navnirman Sena (MNS) workers for allegedly assaulting a shopkeeper in South Mumbai's Girgaon area and circulating a video of the incident. Following the FIR, the police have issued notices to the accused, summoning them for questioning. The case has been registered against MNS workers Kuldip Bapardekar, Arjun Jadhav, and Nagesh Hatankar under sections 127(2), 115(2), and 3(5) of the BNS Act. Investigations are ongoing. The altercation reportedly occurred after a Marathi woman, Vimal Mhaskar, complained to MNS workers about a Marwari shopkeeper, Babulal Prajapti, who allegedly insisted on speaking in Marwari with her while she was shopping. In response, the MNS workers confronted the shopkeeper, slapped him, and recorded the act. The video of the assault was shared widely on social media on Tuesday, November 3, prompting the police to take action. In #Mumbai #MNS workers slap shopkeepers in the Girgaon area of South Mumbai,after he ask women to speak to him in Marwadi instead of Marathi Shopkeepers says Now' BJP emergence to power in the state,अब मारवाड़ी में बात करने का मराठी में नहीं,अब बीजेपी की सत्ता आई है। pic.twitter.com/UMyAtOcbxE The V P Road Police have stated that further inquiries are underway to gather evidence and determine the exact sequence of events. The accused MNS workers are expected to provide their statements soon. This incident has sparked debates about linguistic tolerance and appropriate behavior in public spaces, with authorities urging citizens to report grievances through legal channels instead of resorting to violence.
Funding fuels production ramp-up at U.S.-based facility, bringing advanced lead detection and smart home technology to market SCOTTSDALE, Ariz. , Dec. 10, 2024 /PRNewswire/ -- Notation Labs Inc. announced today the successful completion of a $2 million credit facility to scale up production of its innovative QwelTM smart home device. This funding provides the company with the financial flexibility and liquidity needed to expand manufacturing capacity and meet increasing customer demand as it prepares for market launch. The company has already initiated component procurement and manufacturing, including the order of 20,000 circuit boards from U.S.-based suppliers. Final assembly of the initial Qwel units will take place at the company's facility in Phoenix, Arizona . What Is Qwel TM ? QwelTM is a cutting-edge leak detection and prevention system designed to safeguard homes with advanced AI and machine learning technology. Its highly accurate sensors monitor critical factors like water pressure, temperature, flow rate and humidity to provide comprehensive protection. For more information about QwelTM or to stay updated on its release, visit https://www.qwel.io/ . About Notation Labs, Inc.: Notation Labs designs, engineers, and manufactures innovative smart water solutions to deliver high-quality products that empower homeowners. With a suite of advanced technologies, the company helps educate consumers on water conservation and equips them to make sustainable choices in their everyday lives. Driven by a mission to protect water resources for future generations, Notation Labs is at the forefront of water conservation efforts, leveraging breakthroughs in AI, machine learning, and Internet of Things (IoT) technology. The company is committed to making cutting-edge, water-saving devices that are not only highly effective but also affordable and accessible to households worldwide. By combining engineering excellence with a focus on sustainability, Notation Labs is redefining how consumers manage and conserve water. View original content: https://www.prnewswire.com/news-releases/notation-labs-secures-2-million-credit-facility-to-accelerate-production-of-qwel-a-cutting-edge-lead-detection-and-prevention-system-302328185.html SOURCE Notation Labs, Inc.(Bloomberg) -- A rally in the world’s largest technology companies drove stocks higher, with traders wading through the latest economic data and awaiting Jerome Powell’s remarks for clues on the Federal Reserve’s next steps. Treasuries rose and the dollar fluctuated. Equities headed toward all-time highs, with the S&P 500 set for its 56th closing record in 2024. The Nasdaq 100 climbed about 1%. Nvidia Corp. led a gauge of the “Magnificent Seven” megacaps higher as the group extended this year’s surge to 62%. Salesforce Inc. jumped 9% and Marvell Technology Inc. soared 24% as their results boosted hopes both companies will keep benefiting from an industrywide boom in artificial intelligence. Just days ahead of the key jobs report, data showed employment at US companies remained firm in November while services activity expanded at the slowest pace in three months. Powell participates in a moderated discussion later Wednesday, and one of his favorite barometers of the economy — the Beige Book — will likely reflect the post-election surge in sentiment. “Right now, the odds favor another cut this month followed by a pause in January, but a significant change in the jobs landscape could rearrange those puzzle pieces,” said Chris Larkin at E*Trade from Morgan Stanley. The S&P 500 rose 0.4%. The Nasdaq 100 climbed 0.9%. The Dow Jones Industrial Average added 0.4%. European stocks advanced for a fifth consecutive session as German shares hit a fresh record. Investors were watching the no-confidence vote taking place in France. Treasury 10-year yields declined four basis points to 4.18%. The market-implied odds of a quarter-point Fed cut this month have improved to around 70%. Additionally, a cumulative 80 basis points of easing is priced in by the end of next year. To George Smith at LPL Financial, momentum could continue for stocks as December has been a good month for market seasonals. It’s overall the second-best performing month since 1950 — with a 1.6% average gain — and the third-strongest over the past five years, according to Smith. When studying the proportion of positive monthly returns since 1950, December often delivers the highest proportion of positive monthly returns — around 74%. Despite the seasonality, Smith doesn’t out the possibility of short-term weakness, especially as geopolitical threats have the potential to escalate. Equities may also need to readjust to what may be a slower and shallower Fed rate-cutting cycle than markets are currently pricing in, he noted. “We remain tactically bullish into year-end given the positive macro environment, earnings growth, and a Fed that remains supportive of markets,” wrote JPMorgan Chase & Co.’s Market Intelligence Team led by Andrew Tyler. “It is sensible to play the market’s momentum and see low pullback potential until mid-January,” they say. To some technical analysts who watch and analyze price moves, and strategists that keep an eye on investor sentiment, the initial rumblings are starting to sound a lot like a stock market that has overheated. A Bank of America Corp. indicator that tracks sell-side strategists’ average recommendations remains at its highest level since early 2022, in neutral territory, but much closer to a contrarian “sell” signal than a “buy.” “Statistically (and paradoxically), the impact of 2024’s big gains has made the market look riskier for long-term investors, but potentially safer for near-term speculators,” the Leuthold Group’s Doug Ramsey wrote this week. Leuthold’s major trend index (MTI) — which takes into account many different kinds of indicators — remains at a “high neutral,” but all of the indexes in the MTI closed last week with maximum-bullish readings. All the short-term positioning, rally chasing and mechanical buying flow speaks to an attitude of just running with the market tide. That doesn’t stop the potential for things to change when the calendar flips into 2025. “To put it simply, and probably no one wants to hear it, but this is not a good set up — investors and speculators alike have been lulled into permabull paradise,” writes Callum Thomas at Topdown Charts. Investors have their hopes up for a Santa Claus rally, but a healthy dose of skepticism might be warranted after November’s stellar run-up, according to Callie Cox at Ritholtz Wealth Management. “The bar for success is now a lot higher for an economy that may still be in flux,” Cox said. “Yields show that expectations have moved a lot over the past two months, yet we haven’t seen any sustained, clear momentum in economic data. Expectations matter, and the job market is under a microscope.” To Mark Hackett at Nationwide, the sustainability of the market rally will be dependent on the continued resilience of the consumer. One of the best forecasters of consumer spending is the health of the job market. “Markets continue to be driven by a combination of technical and fundamental factors,” Hackett noted. “The consistency of the rally is demoralizing to bears, creating a ‘virtuous circle’ where buying drives further buying. There are questions of sustainability into 2025 given elevated expectations and valuations, but that is unlikely to derail the near-term momentum.” Appetite for equities has shown no sign of abating this year. The S&P 500 made multiple record highs, surging over 25%, powered by technology shares and a broad preference for US assets. The rally extended after the election of Donald Trump raised hopes of tax cuts and deregulation. While American equities have persistently outpaced their global peers, BlackRock Investment Institute says that could continue. The US benefits more from “mega forces,” driving corporate earnings, the firm notes. That is supported by a favorable growth outlook plus potential tax cuts and regulatory easing. “Some valuation measures – whether price-to-earnings ratios or equity risk premiums – look rich relative to history. But they may not tell the full story,” according to BII. “Comparing today’s index to that of the past is like comparing apples to oranges. Plus, valuations tend to matter more for returns over a long-term horizon than in the near term.” BII says the AI mega force will likely benefit US stocks more and that’s why the firm stays overweight, particularly relative to global peers such as European stocks. “The upshot: We are risk-on for now, but stay nimble. Key signposts for changing our view include any surge in long-term bond yields or an escalation in trade protectionism,” BII concluded. Corporate Highlights: Key events this week: Some of the main moves in markets: Stocks Currencies Cryptocurrencies Bonds Commodities This story was produced with the assistance of Bloomberg Automation. More stories like this are available on bloomberg.com ©2024 Bloomberg L.P.
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Procept Biorobotics executive Alaleh Nouri sells $2.73 million in stockA U.S. federal appeals court ruled on Friday in favor of upholding a law requiring China-based ByteDance to divest its popular short video app TikTok in the United States by early next year or face a ban. Here is what will likely happen next for TikTok. WHAT’S NEXT FOR TIKTOK IN COURT? TikTok and its parent ByteDance sued in federal court to block a U.S. law passed in April that would force ByteDance to divest of TikTok. It argued that the law would harm free speech. On Friday, a three-judge panel of the U.S. Court of Appeals for the District of Columbia ruled in favor of the government, citing national security considerations related to China. | The ruling could be appealed to the Supreme Court before the ban takes effect on Jan. 19. Last year, TikTok took similar legal actions to stop a ban on the app in the state of Montana, where a preliminary injunction was granted. HOW DID THIS START AND HOW LONG WILL THIS ALL TAKE? In August 2020, then-President Donald Trump sought to ban both TikTok and Chinese-owned WeChat, but was blocked by courts. In June 2021, President Joe Biden withdrew a series of Trump-era executive orders that sought to ban new downloads of WeChat and TikTok. However, legislators later advanced a bill that compelled ByteDance to divest or face a ban. It passed with wide margins in both the U.S. House of Representatives and the U.S. Senate. To be considered a qualified divestiture, the president must determine TikTok is no longer controlled by and would have no operational relationship with a Chinese entity. When Biden signed the bill in April, a 270-day clock started. If Biden certifies a path to a qualified divestiture has been identified, there is evidence of “significant” progress toward a sale and there are legally binding agreements in place, he can authorize an additional 90 days for any deal to be finalized. The additional time would throw the final decision to President-elect Trump, who has said he will not allow TikTok, which is used by 170 million Americans, to be banned. At least one senator has noted that Trump cannot ignore the TikTok law. U.S. tech companies could face billions of dollars in fines if they allowed users to access TikTok after Jan. 19 and even if Trump said he would not enforce the law, they could face potential risks from others who might seek to enforce it. WILL TIKTOK CHANGE AT ALL? The TikTok app should not change for its U.S. users between now and Jan. 19. WHAT DOES THE CHINESE GOVERNMENT SAY? China has a list of technologies that would need Chinese government approval before they are exported. Experts said TikTok’s recommendation algorithm would fall under the list, making divestment very difficult for ByteDance. (Reporting by Chris Sanders; additional reporting by David Shepardson; Editing by Jonathan Oatis) The application deadline for Fast Company’s World Changing Ideas Awards is this Friday, December 6, at 11:59 p.m. PT. Apply today.